Ferroglobe (GSM) Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in Ferroglobe (NASDAQ:GSM) by 33.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,702 shares of the basic materials company’s stock after selling 19,247 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ferroglobe were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. PEAK6 Investments L.P. boosted its stake in Ferroglobe by 107.8% in the 4th quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 10,221 shares in the last quarter. Invictus RG boosted its stake in Ferroglobe by 143.1% in the 4th quarter. Invictus RG now owns 27,043 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 15,921 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Ferroglobe in the 4th quarter worth approximately $733,000. SG Americas Securities LLC acquired a new stake in Ferroglobe in the 4th quarter worth approximately $1,135,000. Finally, Driehaus Capital Management LLC acquired a new stake in Ferroglobe in the 4th quarter worth approximately $2,060,000. Institutional investors own 41.83% of the company’s stock.

Shares of Ferroglobe opened at $11.06 on Wednesday, according to Marketbeat Ratings. The company has a quick ratio of 1.04, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. Ferroglobe has a 12 month low of $10.82 and a 12 month high of $11.05. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 85.15 and a beta of 1.61.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, February 26th. The basic materials company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Ferroglobe had a net margin of 1.45% and a return on equity of 2.29%. The business had revenue of $468.22 million for the quarter, compared to analyst estimates of $463.41 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. equities research analysts forecast that Ferroglobe will post 1.07 earnings per share for the current year.

Several analysts have commented on the stock. Jefferies Group set a $19.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Monday, February 26th. BidaskClub upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 28th. TheStreet upgraded shares of Ferroglobe from a “c+” rating to a “b” rating in a research note on Friday, March 23rd. Finally, Oppenheimer set a $20.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Ferroglobe has a consensus rating of “Buy” and a consensus price target of $19.60.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicon metals that are used in personal care items, construction-related products, health care products, and electronics, as well as used in the manufacture of silicone chemicals; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

Institutional Ownership by Quarter for Ferroglobe (NASDAQ:GSM)

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